AgileThought gets approval to access $11.2 million of DIP facility

By Sarah Lizee

Olympia, Wash., Aug. 31 – AgileThought, Inc. received approval to access $11.2 million of new money under a proposed debtor-in-possession financing package, according to an interim order filed Wednesday with the U.S. Bankruptcy Court for the District of Delaware.

As previously reported, the financing is with the company’s prepetition first-lien lenders, which are affiliates of Blue Torch Finance, LLC.

Following final court approval, the DIP financing will consist of $22 million in new-money term loans and a $95.94 million rollup of prepetition first-lien debt.

The rollup will bear interest at the reference rate plus 1,000 basis points per annum, payable in kind. The new money will bear interest at either the reference rate plus 1,000 bps, or, if agreed by the lenders, SOFR plus 1,100 bps per annum, in each case payable in kind. Default interest will be an additional 2% per annum, payable in kind.

The DIP facility is set to mature on Nov. 27.

A final hearing on the DIP financing is set for Sept. 22.

The company has also lined up a stalking horse asset purchase agreement with the Blue Torch affiliate lenders. The deal is subject to higher and better offers.

AgileThought is an Irving, Tex.-based provider of digital transformation services, agile software development and next generation technology solutions. The company filed bankruptcy on Aug. 29 under Chapter 11 case number 23-11294.

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